Dundee United have confirmed chairman Stephen Thompson has held talks with Australian side Newcastle Jets after reports emerged suggesting he was preparing a takeover bid.
The Australian Daily Telegraph reported on Wednesday that Tangerines chief Thompson wanted to buy the struggling A-League outfit.
Thompson flew to New South Wales last week and attended the club's 3-1 defeat to Wellington at Hunter Stadium.
Now the Tannadice side have confirmed last season's William Hill Scottish Cup runners-up are looking in to new ways of sourcing young talent - including a potential tie-up with the Jets.
A United spokesperson said: "We have been made aware of reports circulating in Australia regarding a potential purchase of Newcastle Jets.
"We can confirm that our own Chairman Stephen Thompson has visited Australia recently where he met a number of clubs' and league representatives as part of a wide-ranging fact finding mission.
"This Board's view is that football is a global market place and as part of our aim to develop Dundee United Football Club we are continually seeking opportunities to improve on and off field.
"Mr Thompson's visit to Australia provided a worthwhile insight into a league that is progressing rapidly, whose clubs are part of a growing market in world football and is home to a number of very promising young players.
"At all times the Board will act in the best interests of this Club and Australia is simply one of a number of countries that Dundee United is monitoring.
"Our philosophy remains focused on the identification and professional development of the best young footballing talent available."
United's youth recruitment policy has already proved to be a major money-spinner for the club.
Talented playmaker Ryan Gauld was sold to Portuguese giants Sporting Lisbon for £3million in the summer, while full-back Andrew Robertson moved to Hull for £2.85million soon after.
Substantial profits have also been made from the sales of David Goodwillie, Johnny Russell and Scott Allan to clubs down south in recent years and now Thompson wants to lure the best Australian youngsters from Down Under in the hope they can also be developed.
The Telegraph also claimed that Thompson had visited a number of other A-League sides, including Adelaide, Perth, Sydney and Western Sydney during a three-week trip.
Jets' millionaire Nathan Tinkler has been actively trying to offload the club - currently second bottom of the 10-team A-League - for months and even sent a delegation to the UK earlier this year in an attempt to find a buyer.
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